All Forum Posts by: Branden Rivero

If it is city of Miami you are better off doing a new set of plans rather than using someone else's in my opinion, I have done both and it always ends up costing the same time and money at the end of the day. You are on the money with construction costs as of today based on other new builds I have going on. Let me know if I can be of any help

0 Votes

Miami, Florida

Quote from @Claudia Acanda:

Hi friends, I am new to real state investing but I need some advice/ help in the following: (* please be kind in the comments, I am just starting out, thank you :) *

1. Is airbnb still worth to tab into? or is long term rental better. ( for either cases, someone will manage and handle if repairs, cleaning etc.)

2.what do you guys think about the future of allapatah ?

3. what resources/ websites can I use to help me predict trends or good up coming neighborhoods ?

4. How do I know when it's a good deal and I should go for it?

I believe air Bnb is worth it if you keep your costs low and the area is 🔥

I believe allapatah will keep appreciating but getting in there is tough but not impossible

Are you local? Use your local real estate sources and see what projects and where the $$ is flowing into

0 Votes

Miami, Florida

Would be happy to make the intro to mine they do all my docs and closings

0 Votes

Miami, Florida

Quote from @Jerryian Francois:

Quote from @Jack Phillips:

Same here with me. Cant find anyone in NJ to work with... might have to move to miami to work with you lol

Lol man it’s lonely out here in Miami on BiggerPockets !!

Miami 🙋🏻‍♂️

0 Votes

Miami, Florida

Quote from @Vinicius Cadengue:

Quote from @Devin Peterson:

Quote from @Vinicius Cadengue:

Hey Bigger Pockets members,

My name is Vinicius; I am looking into purchasing my first investment property. I work/live in Miami area and the market here looks very hard right now. I have been looking into the Miami market and Ohio market, where the numbers looks like make more sense as right now. I would like to invest in a SMF (2-4 unit) property.

I would like to hear some ideas on how to get that started, types of loan/lenders/hard money, people to connect and help me get that started, specially if been out of state.

Please get in touch with me.

I look forward to hearing/working with you!

Thank you!

Vinicius.

Forgive me, if I'm getting confused, but are you saying Miami, Florida or Miami of Ohio because generally speaking, every major city in Ohio is nowhere near as saturated as Miami Florida. It is two different markets prices will be different, insurance will be different and definitely taxes will be different. What's your main goal? Are you seeking to be a long-term buying hold investor, short term rental? Just trying to get a clear picture of your strategy. All in all you will be seeking a DSCR loan most likely, and that what city or location you're talking about if you were looking for a turnkey property. 20-25% down, DSCR 1.00+, and 2-3 months reserves most likely is the average requirement. Have you been pre-approved yet?

Certainly, I am referring to Miami, Florida. My primary objective is to secure a property for long-term investment, specifically in a small multi-family (2-4 unit) setup. Acknowledging the market differences between Miami, Florida, and Ohio—such as variations in prices, insurance, and taxes—is crucial for informed decision-making. Your insights are invaluable, and I'm seeking a strategy that aligns with a long-term hold. While I haven't been pre-approved yet, I'm actively exploring different loan options and aiming for a DSCR loan with 20-25% down and sufficient reserves, as you mentioned. I'm open and eager to hear about other strategies and plans that might better suit my investment goals. Your expertise and advice are greatly appreciated, please let me know if we could get into a call at any point.

have you considered sw florida or the space coast?

0 Votes

Quote from @Bob Stevens:

Quote from @Branden Rivero:

Quote from @Bob Stevens:

Quote from @Branden Rivero:

Quote from @Bob Stevens:

Quote from @Branden Rivero:

Quote from @Bob Stevens:

Quote from @Ghenia Flewellyn:

@Alberto Freites

I live in so FL. Opportunities still exist here. Look to buy off market. I can connect you to a few off market contacts when you're ready if you'd like.

Really deals in FT Lauderdale. What do you consider a deal ? Post the numbers and the street.

Deals are there if you look and market for them. I do not believe theres a crash coming here , who is your source?

you can look up my llc to see what deals we own Prop hunters LLC

NOT a big correction coming to S Florida, hm? 100% there is. I see price reductions daily. This 1k a sq ft is unsustainable. The assessments of 25k - 200k per unit in condos cannot be absorbed, people are going to dumb. Deals in FL please if you have on, please post the numbers, I would love to see it.

All the best

Sure

Just sold last week 15955 sw 304th Ter- bought 300k sold 440 with 12k into it

603 nw 10th st - under contract to sell currently bought at 260 sold as is at 345 without touching it

Want me to keep on?

Again, its not going to last, keep crushing it,

PS can I have a few like this lol

BTW, I want rentals, wealth is built not flipped. Biggest mistake I made was not keeping 50 or so more of the 500 I flipped, cost me millions,

All the best

My last 3 multi families

2429 nw 81 3/2+ 3/2 purchased at 385 October

2441 nw 81 3/2+ 3/2 purchased at 400 October

441 nw 44th 3/2+2/1 purchased at 280 August

again there’s deals , you just have to look.

I'm curious what is the net cap on the MF. if you are getting 10% then I will crown you as the king LOL. All my rentals are never less then 15 - 20% net based on cash purchase.

yes, it is tough here compared to other markets, But not impossible. most of the time they don't start out at 10%. Also these deals are not one out of 100 they are the last 3 i have closed on to keep, you can verify on the county site. I attached rough estimate on here, I included rehab on to the sales price

1 Vote

Miami, Florida

Quote from @Bob Stevens:

Quote from @Branden Rivero:

Quote from @Bob Stevens:

Quote from @Branden Rivero:

Quote from @Bob Stevens:

Quote from @Ghenia Flewellyn:

@Alberto Freites

I live in so FL. Opportunities still exist here. Look to buy off market. I can connect you to a few off market contacts when you're ready if you'd like.

Really deals in FT Lauderdale. What do you consider a deal ? Post the numbers and the street.

Deals are there if you look and market for them. I do not believe theres a crash coming here , who is your source?

you can look up my llc to see what deals we own Prop hunters LLC

All the best

Sure

Just sold last week 15955 sw 304th Ter- bought 300k sold 440 with 12k into it

603 nw 10th st - under contract to sell currently bought at 260 sold as is at 345 without touching it

Want me to keep on?

Again, its not going to last, keep crushing it,

PS can I have a few like this lol

BTW, I want rentals, wealth is built not flipped. Biggest mistake I made was not keeping 50 or so more of the 500 I flipped, cost me millions,

All the best

My last 3 multi families

2429 nw 81 3/2+ 3/2 purchased at 385 October

2441 nw 81 3/2+ 3/2 purchased at 400 October

441 nw 44th 3/2+2/1 purchased at 280 August

again there’s deals , you just have to look.

0 Votes

Miami, Florida

Quote from @Bob Stevens:

Quote from @Branden Rivero:

Quote from @Bob Stevens:

Quote from @Ghenia Flewellyn:

@Alberto Freites

I live in so FL. Opportunities still exist here. Look to buy off market. I can connect you to a few off market contacts when you're ready if you'd like.

Really deals in FT Lauderdale. What do you consider a deal ? Post the numbers and the street.

Deals are there if you look and market for them. I do not believe theres a crash coming here , who is your source?

you can look up my llc to see what deals we own Prop hunters LLC

All the best

Sure

Just sold last week 15955 sw 304th Ter- bought 300k sold 440 with 12k into it

603 nw 10th st - under contract to sell currently bought at 260 sold as is at 345 without touching it

Want me to keep on?

1 Vote

Miami, Florida

Quote from @V.G Jason:

Quote from @Branden Rivero:

Quote from @Bob Stevens:

Quote from @Ghenia Flewellyn:

@Alberto Freites

I live in so FL. Opportunities still exist here. Look to buy off market. I can connect you to a few off market contacts when you're ready if you'd like.

Really deals in FT Lauderdale. What do you consider a deal ? Post the numbers and the street.

Deals are there if you look and market for them. I do not believe theres a crash coming here , who is your source?

you can look up my llc to see what deals we own Prop hunters LLC

Of course you don't think a crash is coming, you're long. And probably getting longer.

I don't think there's a crash coming, but a dose of correction for So Florida for sure. Not primo parts of Miami. Let the assessments, HOI, etc., all sort itself out.

I am long but I also do fix and flips actively and consistently. Currently have 5 flips and 3 new builds in progress. As far south as homestead to as north as Lauderdale lakes and things are moving still. If you price it right, it moves. What you see staying on the market longer are homes that are not renovated asking top dollar or above

1 Vote

Miami, Florida

Quote from @Bob Stevens:

Quote from @Ghenia Flewellyn:

@Alberto Freites

I live in so FL. Opportunities still exist here. Look to buy off market. I can connect you to a few off market contacts when you're ready if you'd like.

Really deals in FT Lauderdale. What do you consider a deal ? Post the numbers and the street.

Deals are there if you look and market for them. I do not believe theres a crash coming here , who is your source?

you can look up my llc to see what deals we own Prop hunters LLC

0 Votes

Miami, Florida

All Forum Posts by: Branden Rivero

Branden Rivero has started 0 posts and replied 137 times.

Post: new construction plans

Post: market analysis in miami areas

Post: Looking for Attorney for Seller Financed Deal

Post: Looking to connect with some wholesalers in Miami !!

Post: Seeking Guidance: First Investment Property in Miami or Ohio - Financing and Strategy

Post: The Miami Market is Overrated?

Post: The Miami Market is Overrated?

Post: The Miami Market is Overrated?

Post: The Miami Market is Overrated?

Post: The Miami Market is Overrated?